Thursday, August 13, 2020
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Trump Could Be Toast. If He’s Charged With Criminal Tax Fraud, There Is No...

Donald Trump is a contradiction in terms. On the one hand, he lives for the limelight. He gets totally juiced by the screams of his followers. Their adoration of Trump’s iconic self, the allegedly self-made billionaire playboy, who gets anything and anyone he wants (“They let you do it when you’re a star”) is the narcotic which keeps Trump alive. He can’t get enough of it. Then on the other hand, Trump is a man of secrets. He lives in the shadows and has to hide his dealings, because he’s a grifter, fleecing one mark and then going on to the next. He’s a total financial fraud, as Tuesday’s New York Times piece made eminently clear. He’s fought Congress tooth and nail on any effort made at oversight, which is what Congress is elected to do, and now it looks like the jig is up. Trump might be going to jail. Journalist David Cay Johnston has followed Trump’s doings for 30 years and Trump’s sobriquet for Johnston is “the weird dude.” He has a must-read piece up in Daily Beast Insider.* A typical business person tries to grow their enterprises. Not Trump. He squeezes cash out of them as fast as possible. Then he abandons them, leaving behind unpaid debts. Trump is a financial locust who flits off to find another sucker whose enterprise he can devour. This business model, this utterly corrupt business model, works so long as Trump can find another victim. There is no shortage of Americans gullible enough to believe that Trump will make them rich even as he destroys their wealth. And because he does it with a pen, it’s almost impossible to prosecute these schemes thanks to weak laws on fraud and constrained law-enforcement resources. This is eau de Trump, his undistilled essence, the guiding principal by which he lives his life. Remember the sophomoric jingle, “find ’em, fuck ’em, forget ’em?” That’s Donald Trump to a tee. He should have that phrase carved on his tombstone, it would truly be the most honest summation of what his life has meant, exactly who he was and how he lived, as a man, in this life. Trump paid taxes only two years out of the eleven year period that The Times reported on — and Johnston points out that he may have recovered even that money in future years, due to complex tax laws. Plus, we know that Trump hires genius accountants. In any event, here are the cold hard figures, which may end up putting Trump away, because people do go to prison for tax fraud, and there is no statute of limitations on the crime. In 1989, when the Trump Organization was hurtling toward collapse, he reported $52.9 million of interest income. That was more than 110 times the interest income he had reported three years earlier in 1986. The more than $1 million per week of interest for 1989 implies that Trump held more than $660 million of 30-year Treasury bonds or more than $350 million of risky junk bonds paying an eye-popping 15 percent interest. Who paid that interest?—if it was interest. We know Trump was for years deeply entangled with a major international cocaine trafficker, has done squirrely deals with Russians that on the surface make no economic sense, among other strange […]
@revrrlewis / Twitter Ainsley Earhardt on the NY Times 1557340154.jpg...

Fox & Friends on Trump losing $1 billion: ‘If anything, it’s pretty impressive’

We’re about a year away from state-run television Fox News declaring that Donald Trump’s ballooning weight proves he’s ascending to the godhead. I mean, gods have to be big and unnaturally hued, right? For...
ABC News / YouTube How Donald Trump Has Used Twitter...

#BillionDollarLoser (BDL) – Individual-1’s NY state tax returns become available to Congress

https://twitter.com/TranslateRealDT/status/1126139698366357504 More delaying actions on the path to the bunker — first as tweets, then as NY state begins what seemed inevitable, Trump’s financial data closer to home being made available. BREAKING: The @NYSenate PASSES the bill...
NBC News / YouTube Watch Live President Trump 39 s 1556562983.jpg...

Trump claims he’s not the world’s biggest loser—he’s just the world’s biggest cheat

On Tuesday evening The New York Times published portions of Donald Trump’s tax returns covering the period from 1985 to 1994. During those years, Trump lost more than $1.17 billion. That’s not just a massive loss, it’s the biggest...
Fox Business / YouTube Faction of GOP trying to derail 1539002148.jpg...

It ‘Was Sport’ to Dodge Taxes, Admits Trump, After NYT Details Epic Business Failures

In response to a bombshell New York Times report detailing that President Donald Trump posted higher losses on his tax filings during certain years in the 1980s and 90s than perhaps "any other individual"...
CBS News / YouTube Live Trump signs executive order to 1540983270.jpg...

Trump’s privilege claim over Mueller report is a brazen and bogus attempt to hide...

Donald Trump spent weeks claiming the Robert Mueller's Russian investigation had entirely cleared him of wrongdoing. But now Trump is so desperate to hide the underlying evidence Mueller uncovered, he has asserted a dubious...
Gage Skidmore / Flickr Donald Trump...

Trump declares entire Mueller report and all associated materials protected by executive privilege

In advance of the contempt vote on Attorney General William Barr, Donald Trump followed through on threats to take the entire Mueller report hostage. https://twitter.com/mkraju/status/1126128795826761734 Trump’s stonewalling and obstruction have reached a new level, with an...

Trump lawyer Cohen says he helped Jerry Falwell Jr. after Falwell sex pics surfaced

If you had "now-jailed Trump lawyer Michael Cohen recorded telling comedian Tom Arnold he helped Trump-supporting evangelical leader and Liberty University president Jerry Falwell Jr. cover up raunchy pictures" in your 2019 news predictions, congratulations....
Daniella Zalcman / Flickr Donald Trump...

The Best Thing about the Trump Tax Loss disclosure

The best thing about the Trump Tax Loss disclosure — over a Billion dollar Loss in a Decade is not that it is now obvious without Daddy-dearest $400 Million loans, the Donald would be...
Joeff Davis / Flickr Donald Trump 0087...

Here It Is, The Fox News Spin On Trump’s Taxes. Hint: He’s A Genius

This didn’t take long at all, and believe me, I’ve been watching the clock. Fox News had to do a spin on the bombshell New York Times report Tuesday about Trump’s companies hemorrhaging $1.17Bil in a ten year span, and the fact that he didn’t pay any taxes eight out of those ten years. So, I asked myself while waiting, what will Fox say? They have to spin this as a positive right? What would I say? I thought that reiterating Trump lawyer Charles Harder’s ideas on the subject, that the IRS transcripts were invalid, was the tack that they would take. But they did not. Fox came up with a spin that I never would have thought of. They praised the genius of Trump, for hiring “the best accountants.” Now, if you’re picking your jaw off the floor as I was, consider the logic of this: one spinmeister is going to respect the work of another spinmeister, right? Stands to reason. You’ve got to take 1:37 and listen to this, because it is con-artistry, being played at an Oscar level. According to Fox talking head Marc Thiessen, the New York Times story actually points up a very praiseworthy Trump attribute, and one heretofore unrecognized, I might add: he hires great accountants. Ergo, he is a terrific businessman. Look at what his accountants can do. “I always thought that the reason why Donald Trump doesn’t want his taxes released is nothing to do with any corruption or illegality,” he said on “The Story with Martha MacCallum,” to guest host Ed Henry. “It’s because they are going to show he is not as rich as he says he is. Because when you do your taxes, your incentive is to minimize your income as much as possible to pay the least amount of taxes. So Donald Trump has the best accountants in the world. They’re going to organize his finances in a way to minimize his income.” Now, the only problem with this good ole boy reasoning, is that accountants are held to standards of professional behavior like everybody else. If they mis-represent material fact, or God forbid, file a fraudulent tax return, they can lose their license. The way this is being discussed on Fox, in such an jocular, cavalier way, like it’s nothing to lie on your taxes, is preposterous. Plus, look at the language. The “incentive” is to minimize your income. Oh, no denying that. So, that’s why you keep your receipts, and you make sure you know what all of your legal deductions are. And believe me, saying on an itemized tax form that you’re deducting your postage stamps and your printer cartridge, is a far cry from saying a building is worth $250K when you know it’s worth $1Mil — and then calling Forbes Magazine and saying the same building is worth $10Mil. But we won’t go to Forbes for now, let’s just stay with the accountants. A lie is fraud, and fraud is a crime, and CPAs who commit crimes don’t stay CPAs for long. But you wouldn’t know it to listen to this guy, Thiessen. These accountants are really cool guys who conveniently rearrange facts, and Trump is a total wizard for hiring them. From draft dodger to tax dodger. dk  

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